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23.2.2013 Official
Journal
of
the
European
Union
L
52/1
II
(Non-legislative acts)
REGULATIONS
COMMISSION DELEGATED REGULATION (EU) No 148/2013
of 19 December 2012
supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on
OTC derivatives, central counterparties and trade repositories with regard to regulatory technical
standards on the minimum details of the data to be reported to trade repositories
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
(3) To
avoid
duplicate
reporting
and
to
reduce
the
reporting
burden, where one counterparty or CCP reports on
behalf of both counterparties, the counterparty or CCP
Having regard to the Treaty on the Functioning of the European
should be able to send one report to the trade repository
Union,
containing the relevant information.
Having regard to the opinion of the European Central Bank ( 1 ),
(4) Valuation
of
derivative
contracts
is
essential
to
allow
regulators to fulfil their mandates, in particular when it
comes to financial stability. The mark to market or mark
Having regard to Regulation (EU) No 648/2012 of the European
to model value of a contract indicates the sign and size
Parliament and of the Council of 4 July 2012 on OTC deriva
of the exposures related to that contract, and
tives, central counterparties and trade repositories ( 2 ), and in
complements the information on the original value
particular Article 9(5) thereof,
specified in the contract.
Whereas:
(5) Gathering
information
on
the
collateral
pertaining
to
a
particular contract is essential to ensuring the proper
monitoring of exposures. To enable this, counterparties
(1)
In order to allow flexibility, a counterparty should be
that collateralise their transactions should report such
able to delegate the reporting of a contract to the
collateralisation details on a transaction level basis.
other counterparty or to a third party. Counterparties
Where collateral is calculated on the basis of net
should also be able to agree to delegate reporting to a
positions resulting from a set of contracts, and is
common third entity including a central counterparty
therefore not posted on a transaction level basis but on
(CCP), the latter submitting one report, including the
a portfolio basis, counterparties should be able to report
relevant table of fields, to the trade repository. In these
the portfolio using a unique code or numbering system
circumstances and in order to ensure data quality, the
as determined by the counterparty. That unique code
report should indicate that it is made on behalf of
should identify the specific portfolio over which the
both counterparties and contain the full set of details
collateral is exchanged where the counterparty has
that would have been reported had the contract been
more than one portfolio and should also ensure that a
reported separately.
derivative contract can be linked to a particular portfolio
over which collateral is being held.
(2) To
avoid
inconsistencies
in
the
Common
Data
tables,
each counterparty to a derivative contract should
ensure that the Common Data reported is agreed
(6)
This Regulation is based on the draft regulatory technical
between both parties to the trade. A unique trade
standards submitted by the European Securities and
identifier will help with the reconciliation of the data
Markets Authority (ESMA) to the Commission and it
in the case that the counterparties are reporting to
reflects the relevance of the role of trade repositories to
different trade repositories.
improve transparency of markets towards the public and
regulators, the data to be reported to, collected by and
( 1 ) Not yet published in the Official Journal.
made available by trade repositories depending on
( 2 ) OJ L 201, 27.7.2012, p. 1.
derivative class and the nature of the trade.

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L 52/2
EN
Official Journal of the European Union
23.2.2013
(7)
ESMA has consulted the relevant authorities and the
6. Where
a
derivative
contract
includes
features
typical
of
members of the European System of Central Banks
more than one underlying asset as specified in Table 2 of the
(ESCB) before submitting the draft regulatory technical
Annex, a report shall indicate the asset class that the counter
standards on which this Regulation is based. In
parties agree the contract most closely resembles before the
accordance with Article 10 of Regulation (EU)
report is sent to a trade repository.
No 1095/2010, of the European Parliament and of the
Council of 24 November 2010 establishing a European
Supervisory Authority (European Securities and Markets
Authority) (
Article 2

1 ), ESMA has also conducted open public
consultations on such draft regulatory technical stan
Cleared trades
dards, analysed the potential related costs and benefits
and requested the opinion of the ESMA Securities and
1. Where
an
existing
contract
is
subsequently
cleared
by
a
Markets Stakeholder Group established in accordance
CCP, clearing should be reported as a modification of the
with Article 37 of that Regulation,
existing contract.
HAS ADOPTED THIS REGULATION:
2. Where a contract is concluded in a trading venue and
cleared by a CCP such that a counterparty is not aware of
the identity of the other counterparty, the reporting
Article 1
counterparty shall identify that CCP as its counterparty.
Details to set out in reports pursuant to Article 9(1) and
(3) of Regulation (EU) No 648/2012
Article 3
1. Reports
to
a
trade
repository
shall
include:
Reporting of exposures
1. The
data
on
collateral
required
under
Table
1
of
the
(a) the details set out in Table 1 of the Annex which contains
Annex shall include all posted collateral.
information relating to the counterparties to a contract;
2. Where a counterparty does not collateralise on a trans
(b) the information set out in Table 2 of the Annex which
action level basis, counterparties shall report to a trade
contains details pertaining to the derivative contract
repository collateral posted on a portfolio basis.
concluded between the two counterparties.
3. Where the collateral related to a contract is reported on a
2. For the purposes of paragraph 1, conclusion of a contract
portfolio basis, the reporting counterparty shall report to the
shall mean ‘execution of a transaction’ as referred to in
trade repository a code identifying the portfolio of collateral
Article 25(3) of Directive 2004/39/EC of the European
posted to the other counterparty related to the reported
Parliament and of the Council ( 2 ).
contract.
3. Where
one
report
is
made
on
behalf
of
both
counter
4. Non-financial
counterparties
other
than
those
referred
to
parties, it shall contain the information set out in Table 1 of
in Article 10 of Regulation (EU) No 648/2012 shall not be
the Annex in relation to each of the counterparties. The
required to report collateral, mark to market, or mark to
information set out in Table 2 of the Annex shall be
model valuations of the contracts referred to in Table 1 of
submitted only once.
the Annex.
4. Where
one
report
is
made
on
behalf
of
both
counter
parties it shall indicate this fact, as set out in field 9 of Table
5. For
contracts
cleared
by
a
CCP,
mark
to
market
valuations
1 of the Annex.
shall only be provided by the CCP.
5. Where
one
counterparty
reports
the
details
of
a
contract
Article 4
to a trade repository on behalf of the other counterparty, or a
Reporting log
third entity reports a contract to a trade repository on behalf of
one or both counterparties, the details reported shall include the
Modifications to the data registered in trade repositories shall be
full set of details that would have been reported had the
kept in a log identifying the person or persons that requested
contracts been reported to the trade repository by each
the modification, including the trade repository itself if appli
counterparty separately.
cable, the reason or reasons for such modification, a date and
timestamp and a clear description of the changes, including the
( 1 ) OJ L 331, 15.12.2010, p. 84.
old and new contents of the relevant data as set out in fields 58
( 2 ) OJ L 145, 30.4.2004, p. 1.
and 59 of Table 2 of the Annex.

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EN
23.2.2013 Official
Journal
of
the
European
Union
L
52/3
Article 5
Entry into force
This Regulation shall enter into force on the twentieth day following that of its publication in the Official
Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 19 December 2012.
For the Commission
The President
José Manuel BARROSO

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L 52/4
EN
Official Journal of the European Union
23.2.2013
ANNEX
Details to be reported to trade repositories
Table 1
Counterparty Data
Field Details
to
be
reported
Parties to the contract
1 Reporting
timestamp Date
and
time
of
reporting
to
the
trade
repository.
2 Counterparty
ID Unique
code
identifying
the
reporting
counterparty.
In case of an individual, a client code shall be used.
3 ID
of
the
other
counterparty
Unique code identifying the other counterparty of the contract. This
field shall be filled from the perspective of the reporting
counterparty. In case of an individual, a client code shall be used.
4 Name
of
the
counterparty
Corporate name of the reporting counterparty.
This field can be left blank in case the counterparty ID already
contains this information.
5 Domicile
of
the
counterparty Information
on
the
registered
office,
consisting
of
full
address,
city
and country of the reporting counterparty.
This field can be left blank in case the counterparty ID already
contains this information.
6 Corporate
sector
of
the
counterparty Nature
of
the
reporting
counterparty’s
company
activities
(bank,
insurance company, etc.).
This field can be left blank in case the counterparty ID already
contains this information.
7 Financial
or
non-financial
nature
of
the
Indicate if the reporting counterparty is a financial or non-financial
counterparty
counterparty in accordance with points 8 and 9 of Article 2 of
Regulation (EU) No 648/2012.
8 Broker
ID In
case
a
broker
acts
as
intermediary
for
the
reporting
counterparty
without becoming a counterparty, the reporting counterparty shall
identify this broker by a unique code. In case of an individual, a
client code shall be used.
9 Reporting
entity
ID In
case
the
reporting
counterparty
has
delegated
the
submission
of
the report to a third party or to the other counterparty, this entity
has to be identified in this field by a unique code. Otherwise this
field shall be left blank.
In case of an individual, a client code shall be used, as assigned by
the legal entity used by the individual counterparty to execute the
trade.
10 Clearing
member
ID In
case
the
reporting
counterparty
is
not
a
clearing
member,
its
clearing member shall be identified in this field by a unique code. In
case of an individual, a client code, as assigned by the CCP, shall be
used.
11 Beneficiary
ID The
party
subject
to
the
rights
and
obligations
arising
from
the
contract. Where the transaction is executed via a structure, such as a
trust or fund, representing a number of beneficiaries, the beneficiary
should be identified as that structure. If the beneficiary of the
contract is not a counterparty to this contract, the reporting
counterparty has to identify this beneficiary by a unique code or, in
case of individuals, by a client code as assigned by the legal entity
used by the individual.

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EN
23.2.2013 Official
Journal
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European
Union
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Field Details
to
be
reported
12 Trading
capacity
Identifies whether the reporting counterparty has concluded the
contract as principal on own account (on own behalf or behalf of a
client) or as agent for the account of and on behalf of a client.
13 Counterparty
side
Identifies whether the contract was a buy or a sell. In the case of an
interest rate derivative contract, the buy side will represent the payer
of leg 1 and the sell side will be the payer of leg 2.
14 Contract
with
non-EEA
counterparty Indicates
whether
the
other
counterparty
is
domiciled
outside
the
EEA.
15 Directly
linked
to
commercial
activity Information on whether the contract is objectively measurable as
or treasury financing
directly linked to the reporting counterparty’s commercial or
treasury financing activity, as referred to in Article 10(3) of
Regulation (EU) No 648/2012.
This field shall be left blank in case the reporting counterparty is a
financial counterparty, as referred to in point 8 of Article 2
Regulation (EU) No 648/2012.
16 Clearing
threshold Information
on
whether
the
reporting
counterparty
is
above
the
clearing threshold as referred to in Article 10(2) of Regulation (EU)
No 648/2012. This field shall be left blank in case the reporting
counterparty is a financial counterparty, as referred to in point 8 of
Article 2 Regulation (EU) No 648/2012.
17 Mark
to
market
value
of
contract
Mark to market valuation of the contract, or mark to model
valuation where applicable under Article 11(2) of Regulation (EU)
No 648/2012.
18 Currency
of
mark
to
market
value
of The currency used for the mark to market valuation of the contract,
the contract
or mark to model valuation where applicable under Article 11(2) of
Regulation (EU) No 648/2012.
19 Valuation
date
Date of the last mark to market or mark to model valuation.
20 Valuation
time
Time of the last mark to market or mark to model valuation.
21 Valuation
type Indicate
whether
valuation
was
performed
mark
to
market
or
mark
to model.
22 Collateralisation Whether
collateralisation
was
performed.
23 Collateral
portfolio Whether
the
collateralisation
was
performed
on
a
portfolio
basis.
Portfolio means the collateral calculated on the basis of net
positions resulting from a set of contracts, rather than per trade.
24 Collateral
portfolio
code If
collateral
is
reported
on
a
portfolio
basis,
the
portfolio
should
be
identified by a unique code determined by the reporting
counterparty.
25 Value
of
the
collateral
Value of the collateral posted by the reporting counterparty to the
other counterparty. Where collateral is posted on a portfolio basis,
this field should include the value of all collateral posted for the
portfolio.
26 Currency
of
the
collateral
value
Specify the value of the collateral for field 25.

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L 52/6
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Official Journal of the European Union
23.2.2013
Table 2
Common Data
Field Details
to
be
reported
Applicable types of
derivative contract
Section 2a — Contract
All contracts
type
1 Taxonomy
used The
contract
shall
be
identified
by
using
a
product
identifier.
2 Product
ID
1 The
contract
shall
be
identified
by
using
a
product
identifier.
3 Product
ID
2 The
contract
shall
be
identified
by
using
a
product
identifier.
4 Underlying The
underlying
shall
be
identified
by
using
a
unique
identifier for this underlying. In case of baskets or
indices, an indication for this basket or index shall be
used where a unique identifier does not exist.
5 Notional
currency
1
The currency of the notional amount. In the case of
an interest rate derivative contract, this will be the
notional currency of leg 1.
6 Notional
currency
2
The currency of the notional amount. In the case of
an interest rate derivative contract, this will be the
notional currency of leg 2.
7 Deliverable
currency The
currency
to
be
delivered.
Section 2b — Details on
All contracts
the transaction
8 Trade
ID A
Unique
Trade
ID
agreed
at
the
European
level,
which is provided by the reporting counterparty. If
there is no unique trade ID in place, a unique code
should be generated and agreed with the other
counterparty.
9 Transaction
reference
number A
unique
identification
number
for
the
transaction
provided by the reporting entity or a third party
reporting on its behalf.
10 Venue
of
execution The
venue
of
execution
shall
be
identified
by
a
unique
code for this venue. In case of a contract concluded
OTC, it has to be identified whether the respective
instrument is admitted to trading but traded OTC or
not admitted to trading and traded OTC.
11 Compression Identify
whether
the
contract
results
from
a
compression exercise.
12 Price/rate The
price
per
derivative
excluding,
where
applicable,
commission and accrued interest.
13 Price
notation The
manner
in
which
the
price
is
expressed.
14 Notional
amount Original
value
of
the
contract.

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Field Details
to
be
reported
Applicable types of
derivative contract
15 Price
multiplier The
number
of
units
of
the
financial
instrument
which are contained in a trading lot; for example, the
number of derivatives represented by one contract.
16 Quantity Number
of
contracts
included
in
the
report,
where
more than one derivative contract is reported.
17 Up-front
payment Amount
of
any
up-front
payment
the
reporting
counterparty made or received.
18 Delivery
type Indicates
whether
the
contract
is
settled
physically
or
in cash.
19 Execution
timestamp As
defined
in
Article
1(2).
20 Effective
date Date
when
obligations
under
the
contract
come
into
effect.
21 Maturity
date
Original date of expiry of the reported contract. An
early termination shall not be reported in this field.
22 Termination
date Termination
date
of
the
reported
contract.
If
not
different from maturity date, this field shall be left
blank.
23 Date
of
Settlement
Date of settlement of the underlying. If more than
one, further fields may be used (e.g. 23A, 23B, 23C,
etc.).
24 Master
Agreement
type
Reference to the name of the relevant master
agreement, if used for the reported contract (e.g. ISDA
Master Agreement; Master Power Purchase and Sale
Agreement; International ForEx Master Agreement;
European Master Agreement or any local Master
Agreements).
25 Master
Agreement
version
Reference to the year of the master agreement version
used for the reported trade, if applicable (e.g. 1992,
2002, etc.).
Section 2c — Risk
All contracts
mitigation/Reporting
26 Confirmation
timestamp
Date and time of the confirmation, as defined under
Commission Delegated Regulation (EU) No
149/2013 ( 1 ) indicating time zone in which the
confirmation has taken place.
27 Confirmation
means Whether
the
contract
was
electronically
confirmed,
non-electronically confirmed or remains unconfirmed.
Section 2d — Clearing All
contracts
28 Clearing
obligation
Indicates, whether the reported contract is subject to
the clearing obligation under Regulation (EU)
No 648/2012.

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Official Journal of the European Union
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Field Details
to
be
reported
Applicable types of
derivative contract
29 Cleared Indicates,
whether
clearing
has
taken
place.
30 Clearing
timestamp Time
and
date
when
clearing
took
place.
31 CCP In
case
of
a
contract
that
has
been
cleared,
the
unique
code for the CCP that has cleared the contract.
32 Intragroup Indicates
whether
the
contract
was
entered
into
as
an
intragroup transaction, defined in Article 3 of
Regulation (EU) No 648/2012.
Section 2e Interest Rates If
a
UPI
is
reported
and
contains
all
the
Interest rate
information below, this is not required to be
derivatives
reported.
33 Fixed
rate
of
leg
1 An
indication
of
the
fixed
rate
leg
1
used,
if
applicable.
34 Fixed
rate
of
leg
2 An
indication
of
the
fixed
rate
leg
2
used,
if
applicable.
35 Fixed
rate
day
count The
actual
number
of
days
in
the
relevant
fixed
rate
payer calculation period, if applicable.
36 Fixed
leg
payment
frequency Frequency
of
payments
for
the
fixed
rate
leg,
if
applicable.
37 Floating
rate
payment
Frequency of payments for the floating rate leg, if
frequency
applicable.
38 Floating
rate
reset
frequency Frequency
of
floating
rate
leg
resets,
if
applicable.
39 Floating
rate
of
leg
1 An
indication
of
the
interest
rates
used
which
are
reset
at predetermined intervals by reference to a market
reference rate, if applicable.
40 Floating
rate
of
leg
2 An
indication
of
the
interest
rates
used
which
are
reset
at predetermined intervals by reference to a market
reference rate, if applicable.
Section 2f — Foreign
If a UPI is reported and contains all the
Currency
Exchange
information below, this is not required to be
derivatives
reported.
41 Currency
2 The
cross
currency,
if
different
from
the
currency
of
delivery.
42 Exchange
rate
1
The contractual rate of exchange of the currencies.
43 Forward
exchange
rate Forward
exchange
rate
on
value
date.
44 Exchange
rate
basis Quote
base
for
exchange
rate.

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Field Details
to
be
reported
Applicable types of
derivative contract
Section 2g — Commodities If
a
UPI
is
reported
and
contains
all
the
Commodity
information below, this is not required to be
derivatives
reported unless to be reported according to
Regulation (EU) No 1227/2011 of the European
Parliament and of the Council ( 2 ).
General
45 Commodity
base Indicates
the
type
of
commodity
underlying
the
contract.
46 Commodity
details Details
of
the
particular
commodity
beyond
field
45.
Energy
Information to be reported according to Regulation
(EU) No 1227/2011, if applicable.
47 Delivery
point
or
zone Delivery
point(s)
of
market
area(s).
48 Interconnection
Point
Identification of the border(s) or border point(s) of a
transportation contract.
49 Load
type Repeatable
section
of
fields
50-54
to
identify
the
product delivery profile which correspond to the
delivery periods of a day.
50 Delivery
start
date
and
time Start
date
and
time
of
delivery.
51 Delivery
end
date
and
time End
date
and
time
of
delivery.
52 Contract
capacity Quantity
per
delivery
time
interval.
53 Quantity
Unit
Daily or hourly quantity in MWh or kWh/d which
corresponds to the underlying commodity.
54 Price/time
interval
quantities If
applicable,
price
per
time
interval
quantities.
Section 2h — Options If
a
UPI
is
reported
and
contains
all
the
Contracts that
information below, this is not required to be
contain an option
reported.
55 Option
type Indicates
whether
the
contract
is
a
call
or
a
put.
56 Option
style
(exercise) Indicates
whether
the
option
may
be
exercised
only
at
a fixed date (European, and Asian style), a series of
pre-specified dates (Bermudan) or at any time during
the life of the contract (American style).
57 Strike
price
(cap/floor
rate)
The strike price of the option.

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Field Details
to
be
reported
Applicable types of
derivative contract
Section 2i — Modifications
All contracts
to the report
58 Action
type Whether
the
report
contains:
— a derivative contract or post-trade event for the
first time, in which case it will be identified as
‘new’;
— a modification of details of a previously reported
derivative contract, in which case it will be
identified as ‘modify’;
— a cancellation of a wrongly submitted report, in
which case, it will be identified as ‘error’;
— a termination of an existing contract, in which
case it will be identified as ‘cancel’;
— a compression of the reported contract, in which
case it will be identified as ‘compression’;
— an update of a contract valuation, in which case it
will be identified as ‘valuation update’;
— any other amendment to the report, in which case
it will be identified as ‘other’.
59 Details
of
action
type Where
field
58
is
reported
as
‘other’
the
details
of
such amendment should be specified here.
( 1 ) See page 11 of this Official Journal.
( 2 ) OJ L 326, 8.12.2011, p. 1.

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